He added that Tesla could exceed 50% growth in deliveries by a significant margin.

“It could be a lot more than that, but even with tough economic times, to see 50% growth is pretty nutty,” he said.

Tesla delivered 245,240 vehicles in 2018, more than in any prior year, and nearly more than in all prior years combined. If Tesla hits Musk’s projection, it will deliver around 367,860 vehicles in 2019.

Despite Tesla’s production growth in 2018, the automaker has a history of missing ambitious production timelines. In 2016, the automaker said it would make 500,000 vehicles in 2018, but ended up making 254,530.

Tesla on Wednesday announced its earnings from the fourth quarter of 2018. The automaker posted adjusted earnings of $1.93 per share on revenue of $7.23 billion. Wall Street analysts had expected adjusted earnings of $2.10 per share on revenue of $7.1 billion.

Have a Tesla news tip? Contact this reporter at mmatousek@businessinsider.com.